Shorten defends super cash grab

Opposition Leader Bill Shorten has responded to criticism of a proposal to abolish cash refunds for excess dividend imputation credits. He says claims that the policy could cost retail superannuation funds more than $3.75bn over 10 years are "rubbish", and he has refuted suggestions that the policy will hit pensioners. Shorten adds that taxpayers’ funds should be spend on infrastructure rather than giving cash refunds to people who do not pay tax.